Project Update – All Points North (APN)
APN is engaged in its Series D funding round, an important step in its growth strategy. The company aims to raise more than $100 million at an enterprise valuation of $500 million. APN has already raised close to $100 million of equity funding, with the Series C valuation previously set at $225 million. The private equity investors are eyeing a potential future sale, and if that happens, EB-5 investors are in line to receive a substantial payout.
Meanwhile the company is expanding its services in mental health and addiction treatment with new and ongoing offerings. Revive Retreats, a three-day wellness program in Colorado, offers professionals a chance to reset through personalized wellness and goal-setting. The company is also expanding its interventional psychiatry, fitness, and nutrition programs, alongside a $15 million telehealth upgrade to enhance patient engagement and hybrid care. The EB-5 project remains a key part of its expansion plans, adding an additional 85 beds at its flagship facility outside Vail, Colorado which is currently operating at full capacity.
Regional Centers News
While we continue to maintain our national RC coverage, we are able to offer the following Regional Center for sale due to overlapping coverage. Please reach out to us if this is of interest.
- Smith Texarkana, covering all of Oklahoma, Texas, Arkansas, and Louisiana.
Renting a Regional Center (RC) offers developers a cost-effective and expedited pathway to attract EB-5 capital without the extensive time and financial commitment required to establish a new center. However, when deciding on which RC to rent, it’s crucial for developers or fund raisers to assess the RC’s compliance history and track record among other factors. Negotiating clear terms regarding fees and oversight responsibilities is essential. You can read a post on that topic here.
EB-5 News
The current two year sustainment period is facing scrutiny. A D.C. federal judge recently expressed skepticism regarding the lawfulness of USCIS’s change to the EB-5 investment period, which now starts when an investment is made rather than when a conditional green card is issued. This pivotal change, rolled out in October 2023, has been met with legal challenges from the industry trade association, IIUSA, which contends that it defies established policy and necessitates formal rule-making under the Administrative Procedure Act. Read the reasoning behind IIUSA’s lawsuit here, and the response from AIIA, the non-profit championing EB-5 investors, here.
Data from the Department of State reveals a favorable outlook for this fiscal year’s visa availability. Thanks to the rollover of unused visas from last year, the EB-5 visa supply for fiscal year 2025 is set to include approximately 4,400 Rural Visas (20% of the total) and 2,200 High Unemployment Visas (10% of the total) available until September 2025. The clock is ticking for USCIS to process the over 3,000 pending Rural I-526E and 4,000 pending High Unemployment I-526E applications to ensure these visas find their rightful applicants. Dive deeper into this topic on Suzanne Lazicki’s insightful blog post here.
Team Travels
Our team has plenty of traveling coming up. Next week Q Sadriu will be attending the IREX residency and citizenship expo in Dubai and in March Q and Carel van der Merwe will be attending IIUSA events in two key EB-5 markets, Colombia and Brazil. Harry Rhee will be attending the Migration and Entry/Exit summit in Xiamen, China.
We are also planning a meet and learn event in Atlanta on Feb 27 at KPPB Law’s offices with EB-5 attorney Beeraj Patel. We’ll discuss the EB-5 process, concurrent filing and processing times, as well as an introduction to some of the projects we sponsor. It’s a great opportunity to answer any questions you may have in an informal atmosphere. Please reach out if you’d like to join us.
